Ukrainian - American Agrarian Congress,Washington, USA
DATE
Mar 23, 2015

Wheat global prices to decrease in 10 years - expert

Source

APK-Inform

1318

According to the USDA forecast, in 10 years the oilseeds and grains prices will not to rise, and will remain at the level of below the average one for 10 recent years, stated Edward Allen, Economist at the Economic Research Service of the U.S. Department of Agriculture, at the Ukrainian-American Agrarian Congress on March 25.

E.Allen noted that in the current situation Ukraine is able to keep the major crops planted areas at the current level, due to the national currency exchange rate dynamics to stimulate the production for further exports increasing.

The economist forecasted they expect more significant increase of corn production in Ukraine unlike of barley and wheat indices. Still, wheat production to be at the lower level compared with the previous seasons rates.

According to him, Ukraine sharply increased the planted areas under corn in 2010-2013, and become one of the world leading exporters of the grain. But the expected grain prices will not support any significant expansion of the planted areas of corn in the country.

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